At the start of the year, Batcade management had issued a corporate statement informing industry stakeholders that the company had ceased its operations. At the time Betcade management did not disclose any specific reason as to why the company had shut down its enterprise.

The Pasadena-based (California) start-up returns to business, seeking to become the ‘go-to mobile app store’ for betting and gaming consumers. Betcade operations will continue to be led by CEO & Founder David Chang who commented on his firm’s return to business

“Every start-up has a near-death experience, and in those trying times you learn a lot about the company and those that you work with. Throughout the process, we have done our utmost to treat all stakeholders with respect and sincerity.”

Chang backs his firm’s revival with CVC as its new main backer. The CEO stated that Betcade would continue in its initial start-up strategy, focusing on facilitating ‘restricted’ Android app gambling/betting downloads, as well as delivering the industry’s best-in-class tailor-made mobile payment solution.

“In the near term, we will be working with our current partners with apps on the Betcade store. We realise our recent close call may have left our current partners with many questions and we will work hard to answer them while continuing to make a positive contribution to the gambling industry,” Chang further commented on Betcade’s return.